Robinhood Forced to Raise Another $2.4 Billion Despite Limiting GameStop Trades
Mobile trading app Robinhood had to go to the well of financial support from its backers once again as persistent trading in some of the most volatile stocks on the market forced the company to meet increased demands for cash.
While shares of GameStop (NYSE: GME) took a breather today from their frenzied run higher, falling 20% in midday trading after the online brokerage imposed severe restrictions on share purchases, Robinhood was still forced to raise $2.4 billion to be able to ride out the storm.
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Source Fool.com
